A.I. enthusiasm is responsible for the bulk of the stock market’s gain this year

Artificial intelligence isn't just good for business, it's given the market a boost. Data from Bespoke Investment Group earlier this week showed that four major stocks contributed 60% of the uptick in the benchmark index — Apple , Meta Platforms , Microsoft and Nvidia. While it's easy to say these stocks have rallied after being badly beaten up in 2022, the momentum can also be attributed to the excitement around AI.

mountain Meta shares this year Goldman Sachs projects AI will broadly create about $7 trillion in economic growth globally over the next 10 years and forecasts that generative AI will attain a $150 billion total addressable market. "The substance of the rally in big tech has been a flight to safety," said Deepwater Asset Management's Gene Munster. However, he expects AI tailwinds are only getting started.

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